JPMorgan Chase & Co.’s credit-card contracts will no longer require disputes to be settled through arbitration, a practice that lawmakers said was biased against cardholders, to help settle an antitrust lawsuit.
With people facing foreclosures, credit card delinquencies and utility shutoffs, the last thing they need is debt collectors harassing them day and night.
Minneapolis-based NAF has mediated the vast majority of these claims. But both NAF and another arbitrator have stopped hearing arbitrations of consumer-debt cases, and major banks are dropping arbitration requirements.
Banks are expected to look at reviving annual fees, curtailing cash-back and other rewards programs and charging interest immediately on a purchase instead of allowing a grace period of weeks, according to bank officials and trade groups.
Instruct the debt collector to stop calling you at home or at work. Write them a letter if you can with those instructions and save a copy. If the calls continue, they have violated the Fair Debt Collection Practices Act by harassment.
A post from the Lemon Law Blog concerning car companies making collection calls on delinquent car loans: Are Car Companies Calling You To Collect Cash? …collection calls are on the rise. At 1-800 LEMON LAW, we are receiving a number of calls from consumers who are fed up with collection calls… Make sure you learn…
In New York, Financial Fraud against seniors is a serious problem and Senator Kirsten Gillibrand plans to crack down on scams and loopholes that have cost NY Seniors over $180 million.
…the frequent and harassing calls from a debt collector caused a Tampa man’s blood pressure and stress levels to rise to unhealthy levels. His wife is claiming that the abusive debt collection calls contributed to his death
one day out of the blue, you get a call from a collection agency that claims that you not only still owe the original $1500, but also owe thousands of dollars in interest. According to the collection agency, there is no record of the theft and they warn you that if you do not pay back the debt ASAP, your credit will be permanently ruined
A file can help fight the debt collector to get the collection calls to stop. The file should include: All dates and times of all correspondence, including voice mails, pre-recorded messages, live phone calls…
